How to Avoid Probate in New York by Davies Law Firm скачать в хорошем качестве

How to Avoid Probate in New York by Davies Law Firm

How to Avoid Probate in New York by Davies Law Firm Avoiding probate in New York can save families time, legal expenses, and unnecessary court involvement. In this video, estate planning attorneys Frederick P. Davies, Esq. and William P. Davies, Esq. of Davies Law Firm explain how a revocable living trust can help families in Syracuse and throughout Onondaga County transfer assets efficiently while maintaining privacy. Probate is the court-supervised process that takes place in Surrogate's Court when a person passes away with assets in their individual name. Under the New York Surrogate's Court Procedure Act (SCPA), an executor must file documents with the court, prove the validity of the will, identify assets, pay debts and taxes, and distribute property to beneficiaries. This process often takes months and sometimes more than a year in courts such as the Onondaga County Surrogate's Court. Davies Law Firm 210 E Fayette St, Syracuse, NY 13202, United States (315) 472-6511 https://davieslawfirm.com/how-to-avoi... https://www.google.com/maps?cid=11885... A revocable living trust offers a practical method to avoid probate under the New York Estates, Powers and Trusts Law (EPTL). When you create a living trust, you transfer ownership of assets such as real estate, bank accounts, brokerage accounts, investment accounts, and personal property into the name of the trust. The trustor usually serves as the trustee during life and retains control of the assets. At death, a successor trustee follows the trust agreement and distributes property directly to beneficiaries without requiring Surrogate's Court supervision. Because the trust owns the assets, probate administration is generally not required for those assets. Frederick P. Davies founded Davies Law Firm in Syracuse after retiring as a Colonel in the U.S. Air Force, where he served as a Judge Advocate General (JAG) officer and estate planning advisor. He later focused his legal career on estate planning, living trusts, and elder law for families throughout Central New York. William P. Davies, a partner at Davies Law Firm, earned his Juris Doctor from Albany Law School and a Master of Laws in Estate Planning from the University of Miami School of Law. He is admitted to practice in New York and Florida and participates in organizations including the American Bar Association, the Estate Planning Council of Central New York, the New York State Bar Association, and the Onondaga County Bar Association. In the video, the attorneys explain how trust funding plays a key role in probate avoidance. Funding a trust means transferring ownership of assets such as real estate, securities, business interests, partnership shares, and valuable personal property into the trust's name. If assets remain outside the trust, those assets may still go through probate. A properly funded trust allows the successor trustee to manage estate distribution, file necessary tax returns, and follow the instructions written in the trust agreement. The video also reviews other probate avoidance tools recognized under New York law. These include joint ownership with right of survivorship, joint tenancy, tenancy by the entirety for married couples, payable-on-death (POD) designations for bank accounts, and transfer-on-death (TOD) registrations for securities under EPTL § 13-4.7. New York also allows transfer-on-death deeds for real estate under Real Property Law § 424. Life insurance policies and retirement accounts with named beneficiaries typically pass directly to the beneficiary without probate. Davies Law Firm works with families across Syracuse, Onondaga County, and Central New York to create estate plans that include living trusts, trustee selection, asset transfers, and distribution planning. If you want to learn more about revocable living trusts and probate avoidance in New York, watch this video and see how a carefully structured estate plan can help protect your assets and support your loved ones. For additional guidance, contact Davies Law Firm in Syracuse at (315) 472-6511. Can you avoid probate in NY? What is exempt from probate in NY? What's the best way to avoid probate? Is probate mandatory in New York state?